I really want a new Mini Cooper S. I've done the math with the amount of money I make and how much the car will end up costing under a lease. Does anyone have any suggestions that could help me convice my mom to let me get one. Any ideas would be good thanks a lot.

 

I leased a new VW Beetle when they first arrived in the US. There is one positive factor when leasing a vehicle in demand, and that is the residual is usually on the high side. With that factor, and the amount of down payment(cap cost reduction), you may get a favorable rate. If you can swing it at all, I would lease the Cooper S.
This will offer you the best bang for the buck. If the Mini follows the trend of the Miata, New Beetle and PT Cruiser, the base Cooper will be in adequate supply within a 15 month period, but the Cooper S, will retain it's value at a much higher rate. I would try and get the MSRP, or no more than 500 above. If you get roped into paying what the dealers are asking, you are going to be upside down for a long time. Hope this helps. By the way, finance companies that dealerships work with can arrange lease for you as high as 115% of MSRP, or 15% over. On a 20K vehicle, thats 23K. There are many terms and components that make up a lease. Leasing is not for everyone. I know people whom were swayed into leasing luxury cars based on the low lease cost, and end up not being able to drive them, because they are way over the negotiated milage figure. Weigh you factors carefully, and make a wise choice.

 

My take on the lease / buy question -
If you like having a new car every other year - realize this is an expensive habit and do a two year lease. I leased both a new Lexus 250 and Jetta and after the term sold the cars over my residual. VW Credit was not as helpful w/ this, having the buyer buy direct from VW as you do not want to buy and then sell do to the TAX! Make sure you know that you can negotiate all the terms and shop around (Unless you are interested in a hot car..like the mini) Leases do give you more options down the road but you pay for this.

I bought my mini as I expect to hold on to it for 4-5 years at least - In most cases long term it's cheaper this way! My 2 cents////

 

i wonder if chad still has his MINI...

 

Do you need to convince your Mom on the car or the lease?

 

this is a blast from the past!

the mini certaintly hasn't 'gone the way of the pt cruiser and new beetle'